Huawei security concerns are further eroding trust in Chinese brands, survey says
- Despite US efforts to get its equipment banned, Huawei has landed more than 30 commercial 5G network contracts
While building a trustworthy brand outside their home market has always been a tough task for Chinese companies, it has become more challenging because of the ongoing travails of Huawei Technologies.
The global market’s perception of Chinese brands, which was already poor, has become progressively worse because of the troubles of telecommunications equipment manufacturer Huawei, according to a new survey by US-based communications marketing firm Edelman.
“The Huawei factor is significant” in the diminishing trust “in brand China”, said Edelman president and chief executive Richard Edelman at an event in New York on Sunday, according to a Forbes report.
He cited new data gathered from the “Edelman Trust Barometer” survey last month, in which the Huawei issue had further eroded trust in Chinese brands by “five or six points”.
Edelman’s earlier survey between October and November last year found that the average trust level of respondents for Chinese companies was 40 per cent, compared with 70 per cent for German, Swiss and Canadian firms. This survey, which polled more than 33,000 respondents in 27 countries and territories, considers as “distrust” a score below 50 per cent.
“I strongly suggest that this is a problem that Chinese companies – whether state-owned or publicly held – must address as a matter of deep priority,” Edelman said.